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Price Analysis

Bitcoin Price Analysis: BTC Price Surge Moves Towards Intraday Recovery

The anchor of the crypto market is trading in the bullish zone. After yesterday’s price upsurge, the currency has maintained the momentum and has not let the grip to fall. The said momentum is usually an indication of a price hike.

Bitcoin affects many currencies in the market. If the price of Bitcoin goes up, then the entire market may get an opportunity to come out of the recent price drop. As per our readings, the currency is on the right track and will soon go up.

Current Statistics of Bitcoins (BTC):

The price analysis is done with the help of Trading View chart taken on 11th June 2019, at 07:31:58 UTC.

Bitcoin Price Chart -11 June

Summary of Statistics:

  • Bitcoin is the forerunner in the crypto market.
  • ROI of Bitcoin is 5,763.90%.
  • The market cap is 140,847,159,668 USD.
  • The 24hr volume is 17,762,234,105 USD.
  • The circulating supply is marked as 17,752,675 BTC.

Bitcoin Price Comparison:

The coined opened at $7692.28 on 10th June 2019. The price was steady and moving upward from the first hour of the day. At 06:00 UTC, the price experienced a drop which again took place 10:52 UTC which exhibited a price of $7629.6. BTC price immediately picked up with a progression of 5.42% from $7629 to $8043.

The price is maintaining the same momentum since the hike. Even today BTC continues the resistance level at $8055, which is the same as yesterday and with a similar support level of $7888. We are looking forward to a hike in the price towards the second half of the day.

Bitcoin Price Prediction and Conclusion:

Bitcoin is likely to rise till $9000 soon if it maintains the upward momentum. If Bitcoin walks on its yesterday’s path, then $9000 wouldn’t be a bigger deal. The intraday investors must be gazing at the chart in the expectation to draw some profits. The traders can take a sigh of relief as the prospects of going up is higher than dropping, so instead of selling out, we would request to stay long with the currency.

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David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

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